If collections made a debt settlement offer or a company made a foreclosure rescue offer read this first Our material is dedicated to the financial crisis of 2007, documenting the period before, during, and after. Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act. We are a watchdog and consumer advocacy organization.
As we finish the last day of 2008 the reality of the matter is that 18 months have passed since red lights came on and warning sirens sounded in the summer of 2007. Letting the air out of the mortgage bubble, and subsequently starting the collapse of Wall Street, the summer of 2007 was [...]
Competition is a never-ending race of everyone against everyone else. Everyone is a worker, but everyone is a consumer too. As we wrap up Mortgage Blues for another year 2008 has been chaos to some, but very predictable to others. When we told an investor group to dump Fannie and Freddie we [...]
It is time for a review of where our taxpayer dollar went, aka the TARP program. We don’t even want to discuss Hope Now and other tries at solving a problem with no solution. But, you say, there is a viable solution. Perhaps, but the greed that got us into this must [...]
If subprime issues and tainted paper sold around the world didn’t start a global economic war a recent move might do so. Investors in bank debt are threatening to boycott lenders that follow Deutsche Bank in breaking an unwritten rule and failing to exercise a call option on subordinated debt.
In a coordinated action, angry bond [...]
A state court helped subprime borrowers and homeowners with onerous mortgages, including Alt-A and jumbo mortgages. The help probably did more than restructuring and individual loan modifications have done thus far. This may mean real relief, rather than what we have seen from many mortgage companies. Just putting the past due amount [...]
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